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HomeMy WebLinkAbout1969-08-19 394 Bozeman, Montana 19 August: 1969 MINUTES OF THE SPECIAL MEETING OF THE CITY COMMISSION The City Commission of the City of Bozeman, Montana, duly met in session at the City Hall on Tuesday, August 19, 1969, at 1:30 o'clock P.M. The Mayor, Clerk and following Commissioners were Present: Commissioner Sedivy and Commissioner Langohr and the following were absent: None. ********* I The Clerk presented affidavits showing publication of notice of sale of $1,400,000 Sewerage System Revenue Bonds to be dated July 1, 1969, which affidavits were examined and found satisfact- ory and directed to be placed on file in the office of the Clerk. Present at the meeting were the following persons: Phillip Sandquist, representing W. E. Hutton & Company, Denver, Colorado, Thomas Dale, representing Dain, Kalman & Quail of Minneapolis and Monte Lockwood, representing the First National Bank, Bozeman, Montana No oral or written bids were received. However, Mr. Phillip Sandquist, representing W. E. of Denver Colorado,proposed that the City extend to W. E. Hutton & Co. Hutton & Co.,/an option to purchase the bonds at any time between now and September 10, 1969, at 12:00 o'clock noon, at a net interest rate not exceeding 5.95% per annu~, in consideration for which W. E. Hutton & Co. would use its best efforts to market the bonds. After consideration of the proposal, Commissioner Sedivy offered the following resolution and maved its adoption: COMMISSION RESOLUTION NO. 1416 RESOLUTION GRANTING AN OPTION FOR THE PURCHASE OF BONDS AND ADJOURNING THE SALE. BE IT RESOLVED by the Commission of the City of Bozeman, Montana, that notice having been published in accordance with law requesting bids for the purchase of $1,400,000 Sewerage System Revenue Bonds of the City to be dated July 1, 1969, and no bids having been received at the time and place specified in the published notice, but an offer having been received from W. E. Hutton & Co., that it would use its best efforts to market the bonds if the City would extend to it an option to purchase the bonds at any time between now and September 10, 1969, at 12:00 o'clock Noon, at a net interest rate not exceeding 5.95% per annum, it is hereby found and determined that such proposal is advantageous to the City and is hereby accepted. The Mayor and Clerk are hereby authorized, in behalf of the City, to advise W. E. Hutton & Co., orally or in writing of the acceptance of the offer and granting of an option. This sale meeting is hereby adjourned to Sept. ember 10, 1969, at 12:00 o'clock noon to take such further action with respect to the sale of said bonds as may then be deemed necessary or appropriate, and subject to t call of an earlier meeting in the event of an earlier exercise of its option by W. E. Hut 0 & Co. PASSED by the Ci ty Commission and approved by the Mayor this ~.. 69. 1/ Approved ,/ Mayor I ATTEST: The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Langohr, and upon vote being taken thereon, the following voted in favor thereof: Commissioner Sedivy, Commissioner Langohr and Mayor Morrow; and the following voted against the same: None. whereupon the resolution was declared duly passed and adopted and was submitted to and approved and signed by the Mayo~ and attested by the Clerk. STATE OF MONTANA ) )SS. COUNTY OF GALLATIN) I, the undersigned, being the duly qualified and acting Clerk of the Commission of the Commission of the City of Bozeman, Gallatin County, Montana, hereby certify that I have compared the attached and foregoing extract of minutes, and the copy of Resolution No. 1416 contained therein, with the originals of such minutes and resolution on file and of record in my office, and find the same to be full, true and correct copies of such originals; that the meeting referred to in such minutes was duly called and held, and such minutes show all action taken by the Commission of the City at said meeting with reference to its Sewerage System Revenue Bonds dated July 1, 1969, and that the resol- ution contained therein and attached thereto was duly passed and adopted as therein in- dicated, and approved and signed by the May04 and duly filed and recorded, and is now in full force and effect WITNESS MY hand and the seal of the City of Bozeman, Montana, this 19th day of August, 1969. if~df ~~~ission There being no further business to come before the Commission at this time. it was moved by I Commissioner Langohr, seconded- by Commissioner Sedivy, that the meeting be adjourned and the motion was carried by the following Aye and No vote: those voting Aye being Commissioner Langohr Comm- I(L/>~/A Ill. ~- Ma~ r issioner Sedivy and Mayor Morrow; those voting No, none. Clerk of ission ATTEST